Spectacular bitcoin performance. - page 2.

d5000

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Quote from: thejaytiesto on February 16, 2017, 08:14:47 PM

The dump may not even happen. Some people were expecting a dump toady because of more chinese news regarding the freeze of withdrawals for one more month and the price went up, so all those shorters got destroyed.

Sometimes you expect something and the opposite happens.

The reason I expect at least a 10% dump in case of disapproval is that I think many people are speculating on a price increase because of a possible ETF approval. These people will want to get out of BTC with the slightest micro-downtrend if there is an adverse decision about the ETF.

But if the BTC demand actually is strong for another reason, then you may be right. Although I don't remember any bullish fundamental news in the last weeks, so the recovery - if it wasn't because of the ETF - is a mistery for me.

thejaytiesto

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Quote from: d5000 on February 16, 2017, 07:57:12 PM

Quote from: richardsNY on February 16, 2017, 07:26:50 PM

I personally don't see why the ETF wouldn't be approved if you consider that the Winklevoss brothers have had enough time to iron out any doubts that the SEC might have had at the beginning.

You may be right, but the low probability experts estimate for an approval isn't there without a reason. Also, on Bitmex, the current price for the binary asset (100=approval, 0=disapproval) is 34 - so traders also are thinking it's less probable than 50%.

Quote

I however think you're a bit too negative when it comes to the price in case the ETF doesn't get approved. I can understand that due to the disappointment of people some might dump as result, but I can't see the price fall below $800 just because of that. It wouldn't be fair.

There is no such thing like "fairness" in Bitcoin speculation Wink

Was the <$200 dump in 2015 "fair"? Is it fair that early adopters that played around with play money in 2009/10 can be multi-millionaires when Bitcoin prices over $1000?

I personally don't think price would go much lower than $800 (735 or 780 are my best bets) in case of a disapproval, but as I estimate that some are speculationg on a positive outcome, we may see a dump of more than 10 or 15%.

The dump may not even happen. Some people were expecting a dump toady because of more chinese news regarding the freeze of withdrawals for one more month and the price went up, so all those shorters got destroyed.

Sometimes you expect something and the opposite happens.

d5000

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Quote from: richardsNY on February 16, 2017, 07:26:50 PM

I personally don't see why the ETF wouldn't be approved if you consider that the Winklevoss brothers have had enough time to iron out any doubts that the SEC might have had at the beginning.

You may be right, but the low probability experts estimate for an approval isn't there without a reason. Also, on Bitmex, the current price for the binary asset (100=approval, 0=disapproval) is 34 - so traders also are thinking it's less probable than 50%.

Quote

I however think you're a bit too negative when it comes to the price in case the ETF doesn't get approved. I can understand that due to the disappointment of people some might dump as result, but I can't see the price fall below $800 just because of that. It wouldn't be fair.

There is no such thing like "fairness" in Bitcoin speculation Wink

Was the <$200 dump in 2015 "fair"? Is it fair that early adopters that played around with play money in 2009/10 can be multi-millionaires when Bitcoin prices over $1000?

I personally don't think price would go much lower than $800 (735 or 780 are my best bets) in case of a disapproval, but as I estimate that some are speculationg on a positive outcome, we may see a dump of more than 10 or 15%.

aso118

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Quote from: manselr on February 16, 2017, 02:49:30 PM

Bitcoin keeps outperforming every other asset on earth. It's amazing to see how the price is going higher, leaving back the OkCoin price. Currently in Bitcoinwisdom:

Bitstamp 1037.31

BTC-e 1026.938

Bitfinex 1042

OKCoin 984.19/6747.1

Wow!!! 53 dollars of difference already. Bitcoin is no longer waiting for china. Im sorry chinese guys, you need to hurry up and get your money out of that country, start stacking up on bitcoin by buying on other exchanges. Bitcoin waits for no one. ATH incoming.

This is a bonanza for Chinese who want to get money out of the country. Not only does bitcoin provide an easy way out, they can also profit if they send bitcoins out of China. Grin

Nathan Graves

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I think the most important thing was that Bitcoin showed strength and resilience in recovering from the constant waves of FUD that have come from China, since the beginning of the year. I hope Bitcoin continues to demonstrate such a performance.

richardsNY

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Quote from: d5000 on February 16, 2017, 06:18:00 PM

Quote from: manselr on February 16, 2017, 02:49:30 PM

ATH incoming.

Only if the ETF is approved Wink

I think the bullish trend of the past weeks is related to speculation on this event.

As some are as delusional to predict a $3000+ price if the ETF is approved, they can even try to bet on the ETF by buying Bitcoin - and bet against it at Bitmex, as the expected gains by an exploding BTC price are much higher than the expected Bitmex losses if COIN price is over 30, for example, and in case of not being approved the price should not go lower than $600 (maybe even $735 holds). (I should really do that math in detail, but on a first glance it seems reasonable to buy now if you think there is some probability of approval)

I personally don't see why the ETF wouldn't be approved if you consider that the Winklevoss brothers have had enough time to iron out any doubts that the SEC might have had at the beginning. I however think you're a bit too negative when it comes to the price in case the ETF doesn't get approved. I can understand that due to the disappointment of people some might dump as result, but I can't see the price fall below $800 just because of that. It wouldn't be fair.

d5000

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Quote from: manselr on February 16, 2017, 02:49:30 PM

ATH incoming.

Only if the ETF is approved Wink

I think the bullish trend of the past weeks is related to speculation on this event.

As some are as delusional to predict a $3000+ price if the ETF is approved, they can even try to bet on the ETF by buying Bitcoin - and bet against it at Bitmex, as the expected gains by an exploding BTC price are much higher than the expected Bitmex losses if COIN price is over 30, for example, and in case of not being approved the price should not go lower than $600 (maybe even $735 holds). (I should really do that math in detail, but on a first glance it seems reasonable to buy now if you think there is some probability of approval)

harizen

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For support ➡️ help.bc.game

Quote from: manselr on February 16, 2017, 02:49:30 PM

Bitcoin keeps outperforming every other asset on earth. It's amazing to see how the price is going higher, leaving back the OkCoin price. Currently in Bitcoinwisdom:

Bitstamp 1037.31

BTC-e 1026.938

Bitfinex 1042

OKCoin 984.19/6747.1

Wow!!! 53 dollars of difference already. Bitcoin is no longer waiting for china. Im sorry chinese guys, you need to hurry up and get your money out of that country, start stacking up on bitcoin by buying on other exchanges. Bitcoin waits for no one. ATH incoming.

Well that's how bitcoin supposed to be. Since bitcoin is quite much distributed now, the role now for the big hoarders (or your even called China thing) is to make a FUD or create sudden dump. But even with that kind of doings, it's up to people if they will follow. In this, we can see that community is the one making this a strong currency.

Let's us see what will happen next and be sure that you have a spare extra funds. Cool

quake313

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Quote from: manselr on February 16, 2017, 02:49:30 PM

Bitcoin keeps outperforming every other asset on earth. It's amazing to see how the price is going higher, leaving back the OkCoin price. Currently in Bitcoinwisdom:

Bitstamp 1037.31

BTC-e 1026.938

Bitfinex 1042

OKCoin 984.19/6747.1

Wow!!! 53 dollars of difference already. Bitcoin is no longer waiting for china. Im sorry chinese guys, you need to hurry up and get your money out of that country, start stacking up on bitcoin by buying on other exchanges. Bitcoin waits for no one. ATH incoming.

Tradeblock has OKCoin at 1037. For some reason Bitcoinwisdom has the wrong price for OKCoin.

manselr

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Activity: 868

Merit: 1006

Bitcoin keeps outperforming every other asset on earth. It's amazing to see how the price is going higher, leaving back the OkCoin price. Currently in Bitcoinwisdom:

Bitstamp 1037.31

BTC-e 1026.938

Bitfinex 1042

OKCoin 984.19/6747.1

Wow!!! 53 dollars of difference already. Bitcoin is no longer waiting for china. Im sorry chinese guys, you need to hurry up and get your money out of that country, start stacking up on bitcoin by buying on other exchanges. Bitcoin waits for no one. ATH incoming.

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